UOB stock ahead of peers despite Thai exposure
Year to date, UOB is up nearly 6% while DBS and OCBC are down 0.5% and 5%
DESPITE a near one per cent pullback in its share price yesterday, United Overseas Bank is still ahead of its Singapore banking peers in stock performance this year. This has left some analysts scratching their heads for a reason given UOB's exposure in Thailand where the political crisis has now led to martial law.
"We are watching the developments in Thailand very closely, and will continue to take a prudent approach to growth in the country," said Jimmy Koh, UOB group head of investor relations.
"In the long term, we remain confident of South- east Asia's potential as it is grounded in strong fundamentals and backed by the two mega trends of rising intra-regional trade and consumer affluence," he said.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
iFast Q1 net profit surges on ePension unit performance
Suntec Reit Q1 DPU down 13% to S$0.01511 in absence of capital distribution
US: Wall St opens lower as Meta Platforms, economic data weigh
Sheng Siong Q1 net profit up 9.3% on higher revenue
Great Eastern chairman appeals for patience as shareholders fume over share price ‘disaster’
Changi Airport’s Q1 passenger movements surpass pre-pandemic levels